Ely, MN vs Waseca, MN

There is a significant gap in the cost of living between these two cities. Ely is 15.2% cheaper than Waseca. With a cost index of 62 vs 73, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Ely to Waseca should plan for substantially higher expenses across most categories.

On the housing front, median rent in Ely is $627/month compared to $796/month in Waseca — a 21% difference. Home values follow the same pattern: Ely is more affordable at $150,800 median vs $185,600.

Median household income in Ely is $46,042 compared to $61,546 in Waseca (-25.2%). While Waseca is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ely spend roughly 16.3% of their income on rent, more than the 15.5% in Waseca.